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Purchasing property outside Hong Kong has become increasingly popular among Hongkongers in recent years. Whether the purchase is for investment or emigration, to safeguard their own interests, buyers should study all related information and seek independent professional advice before making a decision.

How estate agents and landlords should implement Hong Kong’s new tenancy control regime for subdivided units 2022-05-17

The government has implemented a new tenancy control regime for subdivided units under Part IVA of the Landlord and Tenant (Consolidation) Ordinance, which came into effect on 22 January this year.

Home buyers, sellers must let estate agents verify their ID documents to comply with anti-money-laundering, counterterrorism laws 2022-03-29

In order to comply with the requirements of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), estate agents must conduct “customer due diligence” (CDD) to identify and verify the identity of their customer when handling the sale and purchase of a property. The Estate Agents Authority (EAA) issued a relevant practice circular on this for the estate agency sector back in 2018.

What you need to know when purchasing properties with a previous deed of gift 2022-01-25

Risks exist in the purchase of properties where there was a previous assignment at nil consideration or a deed of gift, as the transaction could be set aside should the previous owner go into bankruptcy or liquidation within five years of the or winding up petition.

Hong Kong property agents risk disciplinary action if the information they give clients is inaccurate 2021-11-30

When listing a property or looking for one for sale, purchase or lease, both the vendor/landlord and the buyer or tenant will most likely consider the relevant market data. Such information could affect their decision making.

Mortgage borrowers should seek professional advice before making a purchase decision 2021-10-19

Prospective purchasers are reminded to carefully consider their own financial situation before making a property purchase decision. In most situations, whether a property transaction can be completed depends on the amount of mortgage loan that could be obtained.

Beware of the pitfalls of buying properties with unauthorised building work or illegal alterations 2021-07-06

There was a recent media report about a purchaser’s mortgage application being rejected by local banks as the property had unauthorised building work. While some properties might look attractive due to a redesign or modification of their original layout plan, purchasers should be wary of the risks if they involve illegal alterations. They could be in breach of the city’s Buildings Ordinance.

Why you should research and compare information contained in advertisements by property agents 2021-04-13

The recent boom in the first-hand residential property market has helped contribute to an increase in the number of transactions in secondary residential properties. Media reports have shown prospective purchasers queuing up to inspect properties.

Exercise care on advertisements and be alert to misrepresentation when buying first-hand residential property 2021-01-26

The sale of new residential developments remains the focus of Hong Kong’s property market this year. In this regard, consumers should not solely rely on promotional materials and advertisements when considering a purchase of a first-hand residential property, particularly those posted on social media or lamp posts. They should always be sceptical about promotional messages.

Hong Kong property agent finds the hard way why it is important to stay on top of mortgage loan rules 2020-09-22

Last month, the Hong Kong Monetary Authority (HKMA), for the first time in more than a decade, raised the applicable loan-to-value ratio cap for mortgage loans on non-residential properties from 40 per cent to 50 per cent, in a bid to boost the city’s moribund property market weighed down by a recession and coronavirus pandemic.

Hong Kong’s property agents must comply with rules when advertising new homes 2020-07-21

As the first-sale residential property market has shown recent signs of a recovery, estate agents are once again eagerly promoting new developments to their clients and the public via different channels. Consumers might have come across advertisements issued by estate agents through the internet or distribution on the street. The Estate Agents Authority (EAA) is, as always, concerned about non-compliances in this area.

Hong Kong property agents face ethical duty advising clients on bank valuation, mortgage financing margin 2020-05-12

Property transactions in Hong Kong’s primary and secondary markets have been declining due to the coronavirus pandemic, and the prospect of a near-term revival is not promising.

Estate agents should adopt full disclosure to avoid conflict of interests in property transactions 2020-03-17

The real estate market thrives on transparency and trust, and agents must not allow any personal interest to conflict with those of their clients.

The importance of conducting a land search when buying or selling property in Hong Kong 2019-12-17

A land search is an important document in a property transaction. It provides the searcher with essential information regarding the property, such as its address, ownership details and encumbrances, if any, that are registered against it.

Why provisional sales, tenancy agreements for property in Hong Kong must be handled with care 2019-10-15

When handling the transaction of second-hand properties in Hong Kong, estate agents may arrange for clients to enter into a provisional agreement for sale and purchase (PASP) or provisional tenancy agreement (PTA).

Be careful when renting a sublet property: if there’s no agreement in place you could end up evicted 2019-07-23

Before deciding to rent a property, a prospective tenant should pay attention to whether it is being leased by the landlord or sublet by the principal tenant, as subletting may involve complicated issues and a subtenant’s rights might not be protected.

Understanding the risks of unauthorised building works before buying or renting property in Hong Kong 2019-05-28

According to the Buildings Ordinance, additions or alterations to buildings made without the prior approval of the Building Authority may constitute unauthorised building works (UBW) and it may issue an order requiring the property owner to demolish/alter the UBW within a specified period.

Pay close attention to stamp duty when buying property in Hong Kong 2019-04-09

I would like to share a case regarding stamp duty liability so as to remind both property agents and consumers of the importance of understanding the types and amount of stamp duty payable before entering into any provisional agreement for sale and purchase.

Regulations on Issuing Property Advertisements 2019-02-26

I would like to share a case concerning a property advertisement with misleading or wrong information.

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